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Company Name: Heatbit Founder: Alex Busarov Date Founded: April 2020 Location of Headquarters: Remote Number of Employees: 25 Website: https://heatbit.com/ Public or Private? Private In early 2020, Alex Busarov was stuck in his Shanghai apartment during COVID. To quell his boredom, he ordered an Antminer S9, a Bitcoin mining machine, to toy around with. After plugging it in, he quickly learned two things: Bitcoin miners are noisy and they run hot. While Busarov saw the prior byproduct as an annoyance, he viewed the latter as an opportunity. Fast-forward to the present day and Busarov and his team are preparing holiday shipments of bitcoin miners that run quietly and double as space heaters (as well as air purifiers) — the flagship product for his company, Heatbit. What is more, Busarov has created a product that helps to decentralize Bitcoin’s hashrate, which has become dangerously centralized. “The first kind of value that I saw in this was how to use energy for heating your home and mining Bitcoin at the same time, but then the mission started evolving as I realized the importance of the decentralization of Bitcoin mining,” Busarov told Bitcoin Magazine. “I think we’re enabling the most resilient infrastructure for Bitcoin to run on.” How Heatbit Devices Work Heatbit devices stand at 24 inches in height and 8 inches in diameter. They’re cylindrical in shape and have a sleek finish. Heatbit’s flagship device. Getting started with a Heatbit device is “as difficult as it is to plug in a Dyson device,” according to Busarov. After doing so, users need only download the Heatbit app and connect the device to WiFi to begin mining bitcoin. Once the device is running, using no more energy than a Dyson space heater and making no more noise than a whirring sound at the volume…

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Filed under: News - @ December 4, 2024 2:26 pm